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Foreign investors buy more than 4502,600 shares of four companies listed on the Yangon Stock Exchange in the past 10 months

Foreign investors have bought more than 4502,600 shares of the four companies in the past 10 months, allowing foreigners to buy shares in companies listed on the Yangon Stock Exchange, according to figures released by the Yangon Stock Exchange. Starting from March 20, 2020, foreigners, Foreign organizations were allowed to buy shares in the Yangon Stock Exchange. As of January 27, 2021, 4502,679 shares were purchased from four of the six companies listed on the Yangon Stock Exchange. The number of shares purchased by each company is 4458,136 shares in First Myanmar Investment Company Limited (FMI); 31973 at Thilawa AS Isaac Holdings Public Limited (MTSH); 7,125 at Ever Flow River Group Public Co., Ltd; 5445 at TMH Telecom Public Co., Ltd. Yangon Stock Exchange (YSX) List of companies that want to invest in shares of companies listed on the Yangon Stock Exchange (YSX). 

Ministry of Finance and Industry The Securities and Exchange Commission issued a notification No. (4/2020). The Securities and Exchange Commission of Myanmar (SEC) has issued Notification No. (1/2019) and Directive No. (1/2020) and allowed foreigners to participate in the daily trading of shares of companies listed on the Yangon Stock Exchange. According to Article 3 (c) of Directive (1/2020), foreigners (including individuals and organizations) wishing to invest must first visit a securities company and obtain a letter of recommendation.  After that, Resident Kyat Account for Securities (R-KAS) for domestic residents and Non Resident Kyat Account for Securities (N-KAS) and Non-resident Foreign Currency Account for Securities (N-FAS) accounts can only be opened in Securities Companies.

Therefore, foreigners wishing to invest in the shares of companies listed on the Yangon Stock Exchange (YSX) open and trade in the bank accounts specified by the Commission. Ministry of Finance and Industry The Securities and Exchange Commission has issued a petition. The Central Bank of Myanmar has issued Directive No. 3/2020 on the requirements for banks to be involved in the daily trading of shares of companies listed on the Yangon Stock Exchange. According to the Notification No. (1/2019) and Instruction No. 1/2020 of the Securities and Exchange Commission, foreigners living in the country and foreigners living in the country will be allowed to trade the shares of listed companies on the Yangon Stock Exchange. Instruction No. 1/2020; According to Article 19, foreigners are required to bring their investment into Myanmar in the trading of shares by Foreign exchange management law, and Foreign Exchange Management Rules and Regulations issued by the Central Bank of Myanmar, the instructions must be strictly followed and supervised by the Central Bank of Myanmar.

Source: Daily Eleven

World-class integrated industrial city being developed in Pathein

The Pathein Industrial City (PIC) project is being developed by Ayeyarwaddy Development Public Company Limited in Pathein, Ayeyawady Region. The Pathein Industrial City (PIC) project is being implemented in three phases and is designed to include an international scale industrial zone, a river port, commercial and residential zone. Upon completion of the project, which is being established on 6,700 acres of land along the Pathein-Ngapudaw Road in Pathein Township, Ayeyawady Region, with an investment of US$ 500 million, it is expected to create over one million job opportunities for local people, according to an official from Ayeyarwaddy Development Public Company Limited.

Phase I of the project is being developed as an industrial zone which will cover about 1,200 acres of land, and the construction work has been about 70 per cent finished. The international port is scheduled to be built in the industrial zone project, and it is being developed for a new role in the regional economy. The Phase I of the project covers an area of 1,200 acres of land. At present, the entire 1,200 acres on Phase I are nearing completion and the factories are operational. When the entire Phase I is fully operational, it will provide employment opportunities for between 150,000 and 300,000 local people. Once completed, the project will create thousands of jobs for local people in Ayeyawady Region.

This project will greatly contribute to the economic growth and employment prospects of the whole region according to the Deputy Chief Executive Officer of Ayeyarwaddy Development Public Company Limited. The Pathein Industrial City (PIC) project is located 8 km from Pathein Port, 7 km from Pathein railway station and 17 km from Pathein Airport. The project will include garment factories, rice mills, fish processing plants, glass mills, cold storage facilities, plastics factories, fertilizer factories and furniture factories. Construction of four factories in Phase I of the project has been finished. The construction of garment factories that can employ 3,000 to 5,000 workers has been completed. Four more factories are expected to be completed before the rainy season.

A special garment zone is being built, and about 50 acres for rice production is being researched by China in the project area. Phase I of the project has reportedly been 70 per cent completed, with Chinese, Korean, Japanese and other international companies investing in the zone. Phase II and Phase III of the project will be the future development of commercial, residential and industrial zone which will cover about 5,500 acres of land. Phase II of the project will include affordable housing projects, hotels, resorts and shopping malls. After Phase I of the project, Phase II will be implemented in 2021, including the low-cost housing projects and shopping malls. The developers were urged to conduct environmental and social impacts of the project with the aim of lessening negative effects and take grievances of local people into consideration.

With rapid urbanization of Pathein City and an urgent need for extension of urban residential housings on the west bank of Ngawun River, the Pathein Bridge-2 was built by the Ministry of Construction. The integrated industrial city project is expected to promote infrastructural development and boost tourism in the region. The local government has been attempting to upgrade basic infrastructure projects in the region, pouring the majority of its budget into reconstruction and upgrade of the road networks, to make operational in all seasons. Infrastructural development of a region plays a vital role in helping the country’s GDP increase and uplifting the standard of living of local people. Development of infrastructural projects provides economic growth, creates job prospects for local residents and lifts them out of poverty.

Source: The Global New Light of Myanmar

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Naungtayar potato association imports 25 tonnes of Mar potato species

Naungtayar potato association imported 25 tonnes of Mar potato species which is suited to the region. The Naungtayar potato association was formed by the potato growers from Naungtayar town, Pinlaung township, Pa-O Self-Administered Zone, Shan State (South). This year, the Naungtayar potato association imported 25 tonnes of Mar potato species from aboard. Last year, they bought from other companies.

In 2015-2016 financial year, the association got tax exemption, and it cost only K1,700 to reach Naungtayar. The association has to pay 15 per cent tax, and it costs K2,500 to reach Naungtayar. The local farmers will grow new species of potato. Then, they will distribute to the local farmers by keeping produced potato in the refrigerator, said Chairman U Khun San Oo of the Naungtayar potato association.

The association imported the new Mar species aimed for the local farmers to grow the potato at a lower cost, to get the good species of potato which is also suited to the weather condition, to yield higher, to produce good delicious potato and to ensure good quality of potato for the fried potato businesses. Naungtayar potato association is constructing a potato cold storage building and is targeted to complete in March. Upon completing the construction project, there will be a good advantage as the good quality potato can be exported. The potato could be stored longer. We will reduce the import of potato, and the local farmers could grow the potato at an affordable cost.

Source: The Global New Light of Myanmar